Diagnostics specialist GeneWake sold to R-Biopharm AG

Munich, 29 October 2015. Insolvency administrator Dr. Björn Hellfeld from law firm Pohlmann Hofmann sold GeneWake business operations to R-Biopharm AG – a leading clinical diagnostics group.

GeneWak2015_10_Genewake_rbiopharm_RECOVe GmbH, Neuried, is specialized in tailor made molecular diagnostics, development of diagnostic kits, companion diagnostics, biomarker-detection and various other technologies. Focus of business operations are clinical studies for oncological questions. In this context, the company cooperates closely with renowned life science firms and international research clusters. GeneWake provides a comprehensive portfolio of products and services in the field of genomics and proteomics as well as tools for Next Generation Sequencing (NGS).

On 2 April 2015, district court Munich ordered preliminary insolvency administration for GeneWake GmbH due to inability to meet payment obligations. Attorney-at-law Dr. Björn Hellfeld from Munich-based law firm Pohlmann Hofmann has been appointed as preliminary insolvency administrator and was confirmed with opening of insolvency proceedings on 1 August 2015.

The insolvency administrator succeeded in stabilizing business operations and continuing all research studies and projects without limitation and thereby set the foundation for an international sales process. In the scope of the sales process R-Biopharm AG – a leading diagnostic company with focus on food and animal feed analysis – acquired GeneWake through an asset deal.

ACXIT Recovery Management, supported by Industry Experts of ACXIT Life Sciences, acted as exclusive M&A advisor to insolvency administrator Dr. Björn Hellfeld.

About Pohlmann Hofmann Insolvenzverwalter Rechtsanwälte Partnerschaft

Pohlmann Hofmann Insolvenzverwalter is one of the leading law firms in southern Germany with thirteen attorneys-at-law dedicated to insolvency administration. Partners Rolf G. Pohlmann, Dr. Matthias Hofmann and Dr. Björn Hellfeld are exclusively engaged as insolvency administrators, insolvency experts as well as custodians in self-administrations under ESUG. Focus of Pohlmann Hofmann is on restructuring and reorganization of ongoing business operations in insolvency proceedings, handling of insolvency proceedings with complex legal situations as well as fraudulent or disputed insolvencies. (www.pohlmannhofmann.de)

About ACXIT Recovery Management

ACXIT Recovery Management as part of ACXIT Capital Partners, is an independent consultancy firm exclusively dedicated to distressed mergers & acquisitions. ACXIT Recovery delivers tailored solutions and transactions for small and medium sized companies as well as for insolvency administrators. The managing partners of ACXIT Recovery were in charge of more than 80 successful transactions in restructuring and insolvency situations over the last eight years.

ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. As an independent and privately owned firm, ACXIT maintains offices and representations in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and New York as well as strong alliances in France, China and India. (www.acxit.com)

Press contact:

ACXIT Recovery Management GmbH
Möhlstrasse 12
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Christian Nicolas Bächstädt, Managing Partner
Tel.: +49-(0)89 – 215 460 00
E-mail: munich@acxit.com

Transaction Lead:

Christian Nicolas Bächstädt, Managing Partner